House Republicans Agree On Buy Out For Tobacco Growers

U.S. & LATIN AMERICA - The Nation - In Brief

June 5, 2004

WASHINGTON -- House Republicans have agreed on a proposal that would provide tobacco growers with a buyout of nearly $10 billion in exchange for farmers giving up a Depression-era federal program that propped up prices through quotas. Rep. Ron Lewis, R-Ky., said the payout to farmers would take place over five years, with the $9.6 billion cost covered by a portion of the 39-cent federal tax on each pack of cigarettes.